iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEARCA:LQD) Reaches New 1-Year Low – Time to Sell?

Shares of iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEARCA:LQD) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $106.77 and last traded at $106.82, with a volume of 1098616 shares. The stock had previously closed at $107.15.

iShares iBoxx $ Investment Grade Corporate Bond ETF Stock Performance

The stock has a market cap of $34.42 billion, a PE ratio of 32.25 and a beta of 0.43. The firm has a fifty day moving average price of $108.38 and a 200 day moving average price of $109.41.

Institutional Investors Weigh In On iShares iBoxx $ Investment Grade Corporate Bond ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in iShares iBoxx $ Investment Grade Corporate Bond ETF by 430.0% in the fourth quarter. JPMorgan Chase & Co. now owns 3,932,215 shares of the exchange traded fund’s stock valued at $433,291,000 after buying an additional 3,190,347 shares during the last quarter. Penn Mutual Asset Management purchased a new position in iShares iBoxx $ Investment Grade Corporate Bond ETF during the 4th quarter worth approximately $142,182,000. Payden & Rygel acquired a new stake in iShares iBoxx $ Investment Grade Corporate Bond ETF during the 4th quarter valued at approximately $51,172,000. BNP Paribas lifted its stake in iShares iBoxx $ Investment Grade Corporate Bond ETF by 14.4% during the 4th quarter. BNP Paribas now owns 2,362,313 shares of the exchange traded fund’s stock valued at $260,303,000 after acquiring an additional 298,058 shares during the period. Finally, SG Americas Securities LLC lifted its stake in iShares iBoxx $ Investment Grade Corporate Bond ETF by 6,160.6% during the 1st quarter. SG Americas Securities LLC now owns 241,595 shares of the exchange traded fund’s stock valued at $26,331,000 after acquiring an additional 237,736 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

iShares iBoxx $ Investment Grade Corporate Bond ETF Company Profile

iShares iBoxx $ Investment Grade Corporate Bond ETF (the Fund), formerly iShares iBoxx $ Investment Grade Corporate Bond Fund, is an exchange-traded fund (ETF). The Fund seeks to track the investment results of the Markit iBoxx USD Liquid Investment Grade Index (the Index), which is a rules-based index consisting of liquid, the United States dollar-denominated, investment-grade corporate bonds for sale in the United States. The Index may include large-, mid- or small-capitalization companies, and components primarily include consumer services, financial, and oil and gas companies.